Good Morning! Spoos, Nasdaq and Industrials all roaming around all-time highs as we await JPM and Citi this AM. Across the Atlantic, Euro markets drifting around unch, with Tech shares finally taking a breather and the Kickoff of US Earnings and Lower Sov Yields weigh on Banks. DAX is flat in average volume, while Spain’s IBEX continues to rally, but volumes have collapsed on the periphery. In London, FTSE up 15bp as Miners and Consumer show some life. Lot of Green in Asia - TOPIX up 20bp despite a Yen rally overnight as Tech led gains - Hang Seng added 25bp as Fins and Property stocks saw their dip bought - Shanghai off small - KOSPI up70bp - Aussie up 40bp despite Miners getting hit on China Production Cuts

The Dollar is under broad pressure on “dovish” Fed Minutes, while Fed Funds at 82%, down from 87% yesterday and the 2YY is off 2bp and 10YY trying to hold the 200d as we await 3 FOMC speakers today. The Euro is up 1% on the week as it nears $1.19 on better Industrial Production, while Sterling weaker as Brexit talks have reached a “deadlock” – all the blogs are chattering about Bitcoin thru $5,000. In China, Ore lost another 3% - but all Industrial metals are slightly higher, and Gold on 2week highs as they enjoy a tailwind from a falling $. Energy mostly weaker, as Brent is getting rejected from 2Y highs near $59 while API showed a big Oil build, coupled with a surprise gasoline draw – but Gas contracts stateside are falling none-the-less.